Oil - Overview as of 28.05.2025

Financial and commodity markets analytics


Oil prices rose slightly following the US decision to suspend Chevron's license to export Venezuelan oil. Despite this, overall growth is restrained as markets prepare for the OPEC+ meeting, which may consider an increase in production. The balance between geopolitical risks and expectations of excess supply forms uncertainty for short-term prospects of oil prices.The area of $60.00-60.50 acts as a local support. In case of strengthening of quotations under the mark $60, the range of $55.50-57.50 may become the next downward target.